Petrobras Will Invest US$ 27 Billion in Pre-Salt and US$ 20 Billion in Post-Salt

Written by Paulo Nogueira

Published on 07/05/2019 at 14:47

Be the first to react!

Petrobras Expects to Invest US$ 27 Billion in Pre-Salt and US$ 20 Billion in Post-Salt Over the Next Five Years. With Plans to Sell BR Distribuidora and Reduce Expenses and Cash, the State-Owned Company Is Restructuring to Focus on Oil Extraction.

The oil company is expected to have 11 more production systems during this period, with seven in the pre-salt. “Our agenda is based on exploration, a focus on the pre-salt, and digital transformation,” said Rudimar Lorenzatto, director of the state-owned company. The firm is expected to have 62 offshore exploration wells between 2020 and 2023. According to him, Petrobras is preparing for a 20% increase in global energy consumption over the next 20 years.

Petrobras Awakens

One of the world’s leading oil companies and the largest company in Latin America, Petrobras returned to profitability after four years of losses, loss of value, increased debt, and involvement in the largest corruption scandal in the country, investigated by Operation Car Wash. The company made a profit of R$ 25.78 billion in 2018, the best result since 2011, when it earned R$ 33.31 billion.

ARTICLE CONTINUES BELOW

See also

Petrobras is expected to release, after the market closes this Tuesday, May 7, the weakest quarterly results. However, investors are really interested in the outlook for the future of the state oil company, which has improved significantly in recent weeks.

The new momentum of the company’s restructuring process this year is making the bad short-term news less significant. With measures to cut costs and strengthen cash flow, investment bank Itaú BBA estimates that the company’s debt will decrease by 26%, to R$ 219.8 million, between 2018 and 2021. With a lighter debt load, Petrobras can seek new opportunities and focus on enhancing its core business, which is oil extraction, increasing profitability for investors.

It is a comeback when considering the company’s situation four years ago, in April 2015. At that time, Petrobras was finally announcing, with a five-month delay, the 2014 result: a loss of R$ 21.58 billion, including a calculated loss of R$ 6.2 billion due to corruption. It was the first negative result since 1991.

Now, Petrobras is preparing to increase production, reduce costs, and invest US$ 82.7 billion (about R$ 330.36 billion) by 2023. Company estimates show production growth of at least 6.47% this year.

On the other hand, it needs to deal with criticism of its fuel pricing policy, which has played a central role in the controversies surrounding diesel and gasoline price increases.

Government Expects to Raise R$ 1 Trillion in 30 Years with the Exploration of Four Pre-Salt Blocks. According to Minister Bento Albuquerque of Mines and Energy, the proposal is to share up to 70% with states

Petrobras Will Invest US$ 27 Billion in Pre-Salt and US$ 20 Billion in Post-Salt

Petrobras Expects to Invest US$ 27 Billion in Pre-Salt and US$ 20 Billion in Post-Salt Over the Next Five Years. With Plans to Sell BR Distribuidora and Reduce Expenses and Cash, the State-Owned Company Is Restructuring to Focus on Oil Extraction.

Petrobras Awakens

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

Elon Musk’s internet comes to mobile: Starlink technology connects smartphones without an antenna via satellite, works even without carrier signal, already costs just US$10 extra in the US, and could arrive in Brazil as an included benefit.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

The United Kingdom removed approximately 1.8 million cubic meters of sand from the seabed and is depositing it all on 6 kilometers of beaches in Norfolk, in a mega-operation to curb erosion, protect coastal villages, and shield a vital gas terminal against the encroaching Atlantic.

Anvisa decides this Wednesday (13) whether to maintain the suspension of Ypê detergents, disinfectants, and laundry detergents. The company filed an appeal but kept two factories in Amparo (SP) idled. The agency’s guidance is not to use the products.

While heat evaporates water from reservoirs and countries seek new areas for clean energy, Morocco is testing floating solar panels that function as an energy lid and also generate electricity.

Researchers from the Australian RV Investigator map the Tasmantid Seamount Chain in the Coral Sea between 200 and 3,600 meters deep and identify 110 new species on extinct underwater volcanoes

Farm in Matopiba transforms cattle manure into natural fertilizer, becomes self-sufficient in phosphorus, and shows how crop-livestock integration can reduce costs amid Brazil’s dependence on imported fertilizers.

Brazil is left out of the European Union’s new list and could lose a billion-dollar market in agriculture: the measure threatens meats, poultry, eggs, honey, and exposes the advantage of Argentina, Paraguay, and Uruguay in exports to the bloc.

Petrobras Will Invest US$ 27 Billion in Pre-Salt and US$ 20 Billion in Post-Salt

Petrobras Expects to Invest US$ 27 Billion in Pre-Salt and US$ 20 Billion in Post-Salt Over the Next Five Years. With Plans to Sell BR Distribuidora and Reduce Expenses and Cash, the State-Owned Company Is Restructuring to Focus on Oil Extraction.

Petrobras Awakens

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

Elon Musk’s internet comes to mobile: Starlink technology connects smartphones without an antenna via satellite, works even without carrier signal, already costs just US$10 extra in the US, and could arrive in Brazil as an included benefit.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

The United Kingdom removed approximately 1.8 million cubic meters of sand from the seabed and is depositing it all on 6 kilometers of beaches in Norfolk, in a mega-operation to curb erosion, protect coastal villages, and shield a vital gas terminal against the encroaching Atlantic.

The government is studying a new phase of Desenrola Brasil to benefit those who pay their bills on time.

Government launches panel to monitor pesticides in rivers and expand environmental control over water resources in Brazil

A man builds a homemade raft with twelve 50-liter containers, spends R$ 260, and creates a fishing platform that supports four people on a calm lagoon without needing to buy a traditional boat for weekend leisure, with a simple structure.

Chile blocks billion-dollar mining megaproject near Humboldt penguin colony, halts iron and copper mine and turns endangered birds into an environmental symbol

Cocoa and chocolate products are now subject to a tougher national rule, and off-standard products will have to change their name, label, and presentation to consumers.

Anvisa decides this Wednesday (13) whether to maintain the suspension of Ypê detergents, disinfectants, and laundry detergents. The company filed an appeal but kept two factories in Amparo (SP) idled. The agency’s guidance is not to use the products.

While heat evaporates water from reservoirs and countries seek new areas for clean energy, Morocco is testing floating solar panels that function as an energy lid and also generate electricity.

Researchers from the Australian RV Investigator map the Tasmantid Seamount Chain in the Coral Sea between 200 and 3,600 meters deep and identify 110 new species on extinct underwater volcanoes

Farm in Matopiba transforms cattle manure into natural fertilizer, becomes self-sufficient in phosphorus, and shows how crop-livestock integration can reduce costs amid Brazil’s dependence on imported fertilizers.

Brazil is left out of the European Union’s new list and could lose a billion-dollar market in agriculture: the measure threatens meats, poultry, eggs, honey, and exposes the advantage of Argentina, Paraguay, and Uruguay in exports to the bloc.